Omega Flex Correlations

OFLX Stock

USD 39.93 0.60 1.48%

The current 90-days correlation between Omega Flex and Luxfer Holdings PLC is 0.46 (i.e., Very weak diversification). The correlation of Omega Flex is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Omega Flex Correlation With Market

Average diversification

The correlation between Omega Flex and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Omega Flex and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Omega Flex. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

For more information on how to buy Omega Stock please use our How to Invest in Omega Flex guide.

Moving together with Omega Stock

0.83	BW	Babcock Wilcox Enter Buyout Trend	Pair Corr
0.62	CR	Crane Company	Pair Corr
0.81	IR	Ingersoll Rand	Pair Corr
0.76	EPAC	Enerpac Tool Group	Pair Corr
0.71	FELE	Franklin Electric	Pair Corr
0.81	AOS	Smith AO	Pair Corr
0.88	DCI	Donaldson	Pair Corr
0.68	ITW	Illinois Tool Works	Pair Corr
0.87	RRX	Regal Beloit Earnings Call This Week	Pair Corr

Moving against Omega Stock

0.9	B	Barnes Group	Pair Corr
0.83	RR	Richtech Robotics Class	Pair Corr
0.81	CVV	CVD Equipment	Pair Corr
0.57	CXT	Crane NXT	Pair Corr
0.61	XMTR	Xometry	Pair Corr
0.53	GHM	Graham Earnings Call This Week	Pair Corr
0.51	MIR	Mirion Technologies	Pair Corr
0.5	NNE	Nano Nuclear Energy Buyout Trend	Pair Corr

Related Correlations Analysis

	HLIO	NPO	LXFR	HURC	EPAC	GRC	GHM	KAI	TNC	FELE
HLIO		0.35	0.61	0.62	0.91	0.91	-0.07	0.66	0.57	0.91	HLIO
NPO	0.35		0.29	0.21	0.33	0.6	0.81	0.68	-0.09	0.45	NPO
LXFR	0.61	0.29		0.7	0.74	0.69	0.07	0.76	0.51	0.68	LXFR
HURC	0.62	0.21	0.7		0.64	0.64	-0.06	0.67	0.72	0.66	HURC
EPAC	0.91	0.33	0.74	0.64		0.89	-0.03	0.71	0.67	0.93	EPAC
GRC	0.91	0.6	0.69	0.64	0.89		0.25	0.83	0.49	0.94	GRC
GHM	-0.07	0.81	0.07	-0.06	-0.03	0.25		0.5	-0.36	0.12	GHM
KAI	0.66	0.68	0.76	0.67	0.71	0.83	0.5		0.36	0.79	KAI
TNC	0.57	-0.09	0.51	0.72	0.67	0.49	-0.36	0.36		0.64	TNC
FELE	0.91	0.45	0.68	0.66	0.93	0.94	0.12	0.79	0.64		FELE
	HLIO	NPO	LXFR	HURC	EPAC	GRC	GHM	KAI	TNC	FELE

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

FELE	+ 0.94	GRC
FELE	+ 0.93	EPAC
EPAC	+ 0.91	HLIO
GRC	+ 0.91	HLIO
FELE	+ 0.91	HLIO
GRC	+ 0.89	EPAC

High negative correlations

TNC	- 0.36	GHM
TNC	- 0.09	NPO
GHM	- 0.07	HLIO
GHM	- 0.06	HURC
GHM	- 0.03	EPAC

Risk-Adjusted Indicators

There is a big difference between Omega Stock performing well and Omega Flex Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Omega Flex's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HLIO	1.63	(0.12)	0.00	(0.20)	0.00	0.00	3.93	(3.61)	19.42
NPO	1.36	0.29	0.14	0.75	1.51	(1.47)	2.56	(2.11)	17.55
LXFR	1.79	0.23	0.09	1.90	1.79	(2.09)	3.55	(3.00)	18.90
HURC	1.99	0.03	0.00	0.11	2.19	(2.07)	4.27	(3.42)	14.38
EPAC	1.39	(0.04)	(0.04)	0.01	1.69	(1.46)	2.35	(2.90)	13.10
GRC	1.33	0.01	(0.01)	0.10	1.78	(1.36)	2.35	(2.56)	14.03
GHM	2.45	0.60	0.21	0.75	2.31	(2.82)	7.07	(4.10)	25.97
KAI	1.51	0.20	0.10	0.34	1.62	(1.76)	3.28	(3.18)	11.67
TNC	1.20	(0.11)	0.00	(0.11)	0.00	0.00	2.24	(2.88)	12.47
FELE	1.15	(0.08)	0.00	(0.08)	0.00	0.00	2.20	(2.14)	13.66

Omega Flex Corporate Management

Steven Treichel	Sr. VP of Corporate Devel. and Facilities Management	Profile
Susan Asch	General VP	Profile
Timothy Scanlan	General Counsel and Secretary	Profile
Luke Hawk	Financial Controller	Profile

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